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Jewish Agency to Spend 114,000, 000 Israel Pounds This Year

The Jewish Agency’s budget will reach a total of 114,000,000 Israel pounds during the current fiscal year, with 85 percent of all funds allocated for immigration, Youth Aliyah, colonization and absorption, Dr. Giora Josephthal, Agency treasurer, told newsmen today.

He revealed that the Agency plans to establish some 30 to 35 new settlements and to invest 28,000, 000 pounds in increasing the productivity of settlements already in existence, through adding irrigation and other facilities. The Agency will also set up factories such as cotton mills or sugar factories to use agricultural products grown by Israel settlements. Dr. Josephthal reported that the Agency will spend 5, 000,000 pounds for the transportation of some 30,000 immigrants.